Marcus & Millichap Arranges Sale of MF Property in DC’s Tenleytown

Marcus & Millichap completed the sale of Broadcast Apartments, a partially complete multifamily development project in D.C.’s Tenleytown neighborhood. The asset sold for $9.5 million.

“This was a very complex, multidimensional transaction involving a receiver, a ground lease, a partially completed building and a host of other issues,” said Marty Zupancic, senior managing director of investments in Marcus & Millichap’s Washington, D.C. office. “Without the significant experience level of this particular receiver, this deal would have been impossible to close.”

Zupancic, John Slowinski and Ryan Murray of Marcus & Millichap exclusively marketed the property on behalf of the seller, Black Dog Receiver, LLC, a court-appointed receiver. Broadcast Apartments is located at 4620-4624 Wisconsin Ave NW. The property is designed to be an eight-story, Class A development totaling 161,347 gross square feet.

It is situated on a 23,522-square-foot MU-4 zoned lot. The property will deliver 144 residential units and three ground-floor retail suites spanning 11,328 square feet. The property is surrounded by restaurants and retailers and is close to American University.